Occidental Executive Says Co To Sell Up To $6B In Assets Within 18 Months Of Deal Closing
Portfolio Pulse from Benzinga Newsdesk
An Occidental Petroleum executive announced plans to sell up to $6 billion in assets within 18 months following the closure of a deal. This move is part of Occidental's strategy to streamline operations and reduce debt.
December 11, 2023 | 4:24 pm
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Occidental Petroleum aims to sell assets worth up to $6 billion within 18 months after a deal closes, indicating a strategic move to streamline and reduce debt.
The announcement of asset sales is typically seen as a positive step towards reducing debt and improving the balance sheet, which can be favorable for the stock price in the short term. Investors may respond positively to this proactive approach to debt management and operational efficiency.
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